Royal Bank of Scotland has signed the final deal to sell most of its equity capital market business in the Asia-Pacific region to Malaysia's CIMB.

RBS said yesterday it had agreed to exit its regional cash equities, corporate broking, equity capital markets, and mergers and acquisitions businesses as part of its plan to restructure its wholesale banking operations.

Mapletree is best known in Hong Kong for its recent acquisition of Festival Walk from Swire Properties. The leading Asia-focused real estate development, investment and capital management company owns and manages a diverse portfolio of assets in Singapore and across Asia.

The mainland property sector lurches between two extremes: euphoric price rises and crushing anti-bubble actions by regulators. Even when it is riding high the industry is ever wary of the next clampdown on its credit, restrictions on new mortgages, or a vast state-led increase in land supply.

China Construction Bank's principal activities are the provision of corporate and personal banking services, conducting treasury business and corresponding banking business, and the provision of asset management and trustee services.

FerroChina, a Singapore-listed mainland coiled-steel maker, has attracted interest from Australia's BlueScope Steel and Russian firms including Evraz Group over selling an about 20 per cent stake with a current market value of US$167 million.

Khazanah Nasional, the investment arm of the Malaysian government, plans to sell its entire stake in mainland department store operator Parkson Retail Group through a share placement and convertible bond sale, sources familiar with the situation said.

Skyworth Digital Holdings, the mainland's second-largest television maker, said the proposed spin-off of its set-top box unit for a separate listing would help the company meet financing needs to run the business.

Capital is needed because most of Skyworth's set-top boxes are sold through cable operators to new subscribers at negligible cost.